NPC deputies share insights on economic stability
- By Zhang Liying
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E-mail China.org.cn, March 8, 2022
Appearing a total of 76 times, the word 'stability' is the most notable highlight of this year's government work report submitted on Saturday to the national legislature for deliberation.
"In our work this year, we must make economic stability our top priority and pursue progress while ensuring stability. In the face of new downward pressure, the task of ensuring stable growth needs to occupy an even prominent position," said the report.
Deputies to the 13th National People's Congress shared their insights on this overarching goal and specific measures designed to achieve it.
Ma Yide, a professor at the University of Chinese Academy of Sciences, said that putting stable growth at an even prominent position can help form a sensible expectation and pool the wisdom and ingenuity of market entities to promote high-quality development.
Lei Jun, CEO and founder of Xiaomi Corp said he was deeply impressed by the measures to keep the operations of market entities stable. "The government work report promises unprecedentedly strong support for market entities, especially for micro and small enterprises."
According to the report, tax refunds and cuts are expected to total 2.5 trillion yuan (about $395 billion) this year, going straight to enterprises. Lei said the measure would bolster market confidence and significantly improve the development environment for market entities.
"The policies and measures introduced by the government are not just passive responses to pressure. On the contrary, they are concrete actions that follow the trend, eye on the future, and pave the way for the stable implementation of the Vision 2035," he said.
For example, the government will press ahead with the 10-year action plan on basic research to ensure stable support over the long term. Lei said basic research is the cradle of scientific and technological innovation and represents a country's competitiveness in the future.
"This policy sounded a bugle call to scientific research. As a representative of China's technology companies, I feel excited. We will respond to the call and try our best," he added.
According to the government work report, China has set its gross domestic product (GDP) growth target at around 5.5% for 2022 based mainly on maintaining stable employment, meeting basic living needs, and guarding against risks.
Li Dongsheng, CEO of Chinese electronics giant TCL Group, said the target reflects an active and pragmatic attitude. "This medium-high rate of growth given our large economic aggregate demonstrates the resilience and internal impetus of the Chinese economy as well as the commitment and confidence of the Chinese people to realize the Second Centenary Goal," he said.
